Indiana Secretary of State Connie Lawson is suspending the licenses of two
Indiana stockbrokers, Kenneth McCabe and Jeffrey Everaert, for delinquent
child support payments in Lake and Porter Counties, respectively.

“Effective immediately, they are no longer licensed in Indiana to sell
securities,” Lawson’s office said in a statement released on Tuesday. “They
are the first securities professionals to have their license suspended for
delinquent child support since the law enacting this suspension procedure
went into effect in July of 2012.”

“Hopefully the loss of their livelihood will give these men the motivation
they need to start making child support payments,” Lawson said. “If they
start paying, it will serve as a late Mother’s Day gift to the mothers of
these men’s children. This also provides investors with some additional
security. Investors don’t want a securities professional who can’t meet
their own financial obligations telling them how to invest their hard earned
money.”

The suspensions occurred after Lawson confirmed that each man owed a
significant amount in child support payments, the statement said. “Kenneth
McCabe owes more than $70,000 in child support payments in Lake County.
Jeffery Everaert is behind over $14,000 in payments in Porter County. Two
other licensees were provided notice of intent to suspend for failure to pay
child support, but both complied before the suspension.”

The Secretary of State’s office works with the Department of Child Services
to identify financial professionals who are registered with the Securities
Division of the Secretary of State’s office and who are behind in child
support and not making payments. Individuals who do not make arrangements
for payment with county prosecutors will receive a warning that payment is
required and that a suspension is possible. If the individual does not
respond, then the Securities Division may suspend their license.